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Fidelity offers a 2% cash back on everything card. Amazon's credit card also gives you higher than 2% on Amazon purchases. Could you elaborate more why you do a

by caw 13y ago

Fidelity offers a 2% cash back on everything card. Amazon's credit card also gives you higher than 2% on Amazon purchases. Could you elaborate more why you do a double conversion to buy something rather than a straight credit card transaction?

pfisch 13y ago
Basically at this point it is tax avoidance. By using btc you avoid paying capital gains tax since basically everyone who holds bitcoins right now has seen their investment go up in value. Converting back to usd is not as good as spending the btc. It is kind of nice having a currency that appreciates in value over time vs slowly getting robbed by inflation or capital gains tax.